TFU | Oct. 22-28

The CSBS re-filed its lawsuit against the OCC, challenging its proposed “fintech charter”; the FDIC is creating an internal office of innovation to support bank fintech efforts; Coinbase was approved to be a qualified custodian in New York State; Apple CEO Tim Cook decried the “data-industrial complex” and suggested an openness to U.S. federal data privacy regulation; Cathay Pacific and British Airways disclosed new details about data breaches of their systems; and IBM is acquiring enterprise Linux giant Red Hat for a reported $33 billion.

JPMorgan announces data sharing agreement with Plaid. Plaid accesses customer data through APIs without storing passwords and usernames, allowing JPMorgan’s customers to more easily push their banking data to third-party apps. The deal represents a shift in the bank’s policy toward fintech; CEO Jamie Dimon previously has complained that fintechs take more data from banks than they need.

Sweden’s central bank plans ‘e-krona’ project. The bank announced that next year it will undertake a project “to develop a tested and ready e‐krona,” as well as explore the legal changes required to introduce a central bank-backed digital currency. The bank’s board is still to approve the project. Sweden has rapidly moved to a e-payments country, largely phasing out cash payments.